- Community Development
Last Updated 4-27-2020.
- Funds for the Paycheck Protection Program (PPP) have been replenished. We encourage all business owners to apply as soon as possible, as these funds are expected to run out very quickly!
Community Ventures is not processing applications for the Paycheck Protection Program. We are still providing technical assistance to clients who may have questions regarding this or other assistance, but applications need to be made through your bank or credit union. If you have questions, please reach out to your Business Development Specialist or to our Support Team at firstname.lastname@example.org.
The SBA Paycheck Protection Program (PPP) The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. These loans are backed by the SBA through local lenders.
Loans are forgiven when the proceeds are used for any of these costs:
More details will be released soon from the federal government regarding details of the program, including the list of lenders offering loans under the program. Below are helpful guides with more information about the program. Resources: Coronavirus Emergency Loans Small Business Guide and Checklist Paycheck Protection Program FAQs for Small Businesses SBA Website - Paycheck Protection Program Have additional questions about the COVID-19 impact to your business? Call us at (859) 231-0054 or email Lew Whalen at email@example.com. If you have questions for SBA, please visit sba.gov/disaster to learn more about these programs. NOTE: Please be aware of the potential for scams, fraud and abuse, related to the economic recovery from the COVID-19 outbreak. If you have questions or concerns about information you have received about the Paycheck Protection Program, the Economic Injury Disaster Loan, or any other support services available, you can contact us at (859) 231-0054 or email Lew Whalen at firstname.lastname@example.org. We will help to get your questions answered from verified sources.
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